Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Investor Day (November 2025)
59 slides from Atlas Copco Ab Class A's investor day presentation, Nov 26, 2025
Slide 1: Capital Markets Day 2025
Capital Markets Day 2025 Atlas Copco Group, Vagner Rego, President and CEO, Peter Kinnart, CFO November 26, 2025
Slide 2: Agenda
Agenda 1 2 3 4 5 Strategy and Business Areas: Performance fundamentals Compressor Technique Financials Summary review for growth & Power Technique 2 Atlas Copco Group Capital Markets Day 2025
Slide 3: Sustainable profitable growth
Sustainable profitable growth MSEK 210 000 60% 175 000 50% 140 000 40% 105 000 30% 70 000 20% Revenues, MSEK Operating margin, % 35 000 10% Adjusted operating margin, % ROCE, % 0 0% 2012* 2013* 2014* 2015* 2016* 2017 2018 2019 2020 2021 2022 2023 2024 Sep. 2025 (12M) * Figures for the years 2012–201
Slide 4: Q3 in brief
Q3 in brief MSEK 50 000 50% ▪ Mixed demand and stable overall orders 45 000 45% ‒ Industrial compressors flat, order decline for gas and process compressors 40 000 40% ‒ Vacuum equipment orders somewhat down 35 000 35% ‒ Weaker demand for industrial assembly and vision solutions 30 000 30% ‒ Solid g
Slide 5: Geographical distribution and order development in local currencies
Geographical distribution and order development in local currencies 31% 33% 36% SHARE OF ORDERS YEAR TO DATE: = Q3 VS. Q2 % = Q3 Year-on-Year Growth Growth +10% +10% Growth +1% Growth -29% Growth +10% 5 Atlas Copco Group Capital Markets Day 2025
Slide 6: Growth varies – our focus is long term
Growth varies – our focus is long term Revenues MSEK Avg. organic growth 210 000 2020-2024 Avg. organic growth 2021-2023 175 000 2012-2024 140 000 +5% Avg. organic growth +13% 2015-2019 105 000 Avg. organic +8% growth 2010-2014 70 000 +4% 35 000 +6% 0 2012* 2013* 2014* 2015* 2016* 2017 2018 2019 202
Slide 7: Strategy and fundamentals for sustainable profitable growth
Strategy and fundamentals for sustainable profitable growth 7 Atlas Copco Group Capital Markets Day 2025
Slide 8: Our targets
Our targets • Climate 8% average • Circularity growth per year Revenues • Resource efficiency in over a business cycle Environment sourcing Sustainable profitable growth • Diversity and inclusion Sustained high • Circularity return on capital Returns • Learning and development employed (ROCE) Social
Slide 9: Looking ahead – trends, challenges and opportunities
Looking ahead – trends, challenges and opportunities Digitalization Automation Deglobalization and AI Geopolitical Energy transition/ Decarbonization uncertainties security 9 Atlas Copco Group Capital Markets Day 2025
Slide 10: Our strategic focus remains – sustainable profitable growth
Our strategic focus remains – sustainable profitable growth Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse cust
Slide 11: Defined profitable niches
Defined Leading Leading profitable position in differentiated niches selected end technology markets Products critical to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 12: Leading position in selected end markets
Leading position in selected end markets Leading differentiated technology Defined Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 13: Leading differentiated technology
Leading differentiated technology Leading position in selected end Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 14: Products critical to customers' operations
Products Leading Leading critical position in differentiated selected end technology to customers’ Defined markets operations profitable niches Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 15: Global market presence
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Global market Leading service offer presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 16: Diverse customer base
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable focused on speed growth Diverse customer and agility base Different valu
Slide 17: Different value propositions with multiple brands
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Operational ex
Slide 18: Passionate and committed people
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 19: Decentralized business model
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 20: Resilient and asset light
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 21: Operational excellence
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 22: An organization focused on speed and agility
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 23: Leading service offer
Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse customer focused on speed growth base and agility Different valu
Slide 24: Our strategic focus remains – Sustainable profitable growth
Our strategic focus remains – Sustainable profitable growth Leading Leading position in differentiated selected end technology Defined markets Products profitable critical niches to customers’ operations Leading service offer Global market presence Sustainable An organization profitable Diverse cust
Slide 25: Supporting customers in all industries
Supporting customers in all industries – But we select our niches ORDERS RECEIVED BY REVENUES BY CUSTOMER CATEGORY BUSINESS TYPE September 2025 (12M) September 2025 (12M) Service General Other manufacturing 12% 39% Service* 21% 9% Construction 10% 16% Electronics 23% 9% 61% Process industry Automoti
Slide 26: Focus on service – dedicated divisions
Focus on service – dedicated divisions SERVICE: Customer uptime, connectivity and data-driven support Compressor Vacuum Industrial Power Semiconductor Specialty Technique Technique Technique Technique Service Rental Service Service Service Service 26 Atlas Copco Group Capital Markets Day 2025
Slide 27: Growth in equipment and service
Growth in equipment and service MSEK 120 000 60% CAGR CAGR 100 000 50% Equipment Service 9% 10% 80 000 40% Equipment revenues, MSEK 60 000 30% Service revenues, MSEK 40 000 20% Service, share of revenues, % CAGR refers to total growth 20 000 10% 2015 – Sep 2025 (12M) (FX and structure included) * Fi
Slide 28: Agile and resilient
Agile and resilient – How to maneuver in a changing business environment DETERIORATING BUSINESS CLIMATE IMPROVING BUSINESS CLIMATE Reduce variable costs Add variable costs Volume / Working capital reduction Working capital increase Profits Small incremental investments AGILE OPERATIONAL SET-UP RESIL
Slide 29: Focused, flexible and scalable organization
Focused, flexible and scalable organization BUSINESS AREAS 24 DIVISIONS PRODUCTS CUSTOMERS Compressor Technique Service Industrial Air Oil-free Air COMPRESSOR Air and Gas Applications TECHNIQUE Gas and Process Medical Gas Solutions Airtec Vacuum Technique Service Semiconductor Service VACUUM Semicon
Slide 30: A truly decentralized organization
A truly decentralized organization ➔ Strong and transparent financial follow-up ▪ More than 650 company P&L and balance sheets ▪ More than 5 000 business line P&L and balance sheets ➔ Culture and leadership with clear accountability ➔ Common processes 30 Atlas Copco Group Capital Markets Day 2025
Slide 31: Leadership in Atlas Copco Group
In Atlas Copco Group leadership is about achieving sustainable results by nurturing our people’s growth and enabling them to reach their full potential 31 Atlas Copco Group Capital Markets Day 2025
Slide 32: Presence in a world with uncertainties
Presence in a world with uncertainties ▪ >100 production units worldwide ▪ Customer centers in more than 70 countries ▪ Focus on supply chain speed ▪ Take advantage of global presence and flexibility ▪ Leverage on digitalization 32 Atlas Copco Group Capital Markets Day 2025
Slide 33: Digitalization
Digitalization ▪ Our strategy is powered by digitalization Digital for ‒ Not a separate digital strategy customer value ▪ A digital framework integrated in our business ▪ Digital solutions embedded in our products and solutions Digital for Digital for customer operational engagement efficiency 33 At
Slide 34: Artificial Intelligence (AI)
Artificial Intelligence (AI) Improved design ▪ Our strategy is powered by AI AI for of products ‒ Not a separate AI strategy customer value Data-driven ▪ AI value creation in several areas service ‒ Top line and bottom line ▪ AI simulations drive speed, efficiency, accuracy, and generates improved p
Slide 35: Reinvest in R&D to secure continued profitable growth
Reinvest in R&D to secure continued profitable growth RESEARCH AND DEVELOPMENT MSEK ▪ Leading positions in our defined markets 8 000 8% ▪ Key products in customer operations 6 000 6% ▪ Drives organic growth ▪ Drives profitability 4 000 4% ‒ Pricing power ‒ Cost savings 2 000 2% ▪ Creates sustainable
Slide 36: Organic growth through innovation
Organic growth through innovation TRANSFORMATION THROUGH Current market ▪ More energy-efficient products Current product ▪ Increased productivity offer ▪ Enabling automation Transformed New innovations ▪ Reduced errors in customers´ market and products production ▪ Safety and ergonomics ▪ Reduced en
Slide 37: Innovation
Innovation ▪ Output ▪ Speed ▪ Broadening the R&D footprint ▪ Secure best-in-class technology in defined niches 37 Atlas Copco Group Capital Markets Day 2025
Slide 38: Innovation – creating tangible customer value
Innovation – creating tangible customer value ▪ Defending innovations and new technology by creating tangible customer value ▪ Application knowledge is key ‒ Our people need to be able to show the value Chiller On-site purifier High-speed LEWA triplex G3E VSDs for industrial together with dispensing
Slide 39: Adding new growth avenues through new technologies
Adding new growth avenues LOW PRESSURE LIQUID RING PUMPS through new technologies CAGR CAGR – Organically and through acquisitions +19% +45% Examples: 2018 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022 2023 2024 ▪ Low pressure ▪ Liquid ring pumps ELECTRONIC DISPENSING INDUSTRIAL PUMPS ▪ Ele
Slide 40: Acquisitions
Acquisitions 160 Acquisitions last 10 years ~23 BSEK of revenues Products critical MSEK No. of acquisitions Industry- Leadership in to customers’ 8 000 40 to-industry niche markets operations 7 000 35 6 000 30 Differentiated Healthy service core technologies potential 5 000 25 4 000 20 3 000 15 ➔ Al
Slide 41: Business areas
Business areas 41 Atlas Copco Group Capital Markets Day 2025
Slide 42: Compressor Technique
Compressor Technique MSEK MARKET TRENDS AND DRIVERS 25 000 50% 22 500 45% ▪ Investments in industrial production drive demand 20 000 40% ▪ Increased focus on energy efficiency, energy 17 500 35% recovery, and energy transition/security 15 000 30% 12 500 25% ▪ Total cost of ownership for customers is
Slide 43: Growth in equipment and service – Compressor Technique
Growth in equipment and service – Compressor Technique MSEK 50 000 50% CAGR CAGR Equipment Service 40 000 40% 8% 8% 30 000 30% Equipment revenues, MSEK 20 000 20% Service revenues, MSEK Service, share of revenues, % 10 000 10% CAGR refers to total growth 2015 – September 2025 (FX and structure inclu
Slide 44: Compressor Technique – More than compressed air
Compressor Technique – More than compressed air 44 Atlas Copco Group Capital Markets Day 2025
Slide 45: Power Technique
Power Technique MSEK MARKET TRENDS AND DRIVERS 10 000 50% 9 000 45% ▪ Investments in industrial production drive 8 000 40% demand for industrial pumps 7 000 35% ▪ Infrastructure investments drive demand for 6 000 30% portable power and flow 5 000 25% 4 000 20% ▪ Increased focus on productivity and f
Slide 46: Growth in equipment and service – Power Technique
Growth in equipment and service – Power Technique MSEK 24 000 60% CAGR CAGR 20 000 50% Equipment Service 10% 13% 16 000 40% Equipment revenues, MSEK 12 000 30% Service revenues, MSEK (incl. Specialty Rental) 8 000 20% Service, share of revenues, % (incl. Specialty Rental) 4 000 10% CAGR refers to to
Slide 47: Power Technique – Industrial flow
Power Technique – Industrial flow 47 Atlas Copco Group Capital Markets Day 2025
Slide 48: Financials
Financials 48 Atlas Copco Group Capital Markets Day 2025
Slide 49: Our financial targets remain
Our financial targets remain The Group’s goal for annual revenue growth is 8%, measured over 8% average a business cycle. At the same time, the ambition is to grow faster growth per year Revenues than the most important competitors. over a business cycle Growth should primarily be organic, supported
Slide 50: Long term growth
Long term growth MSEK 190 000 30% Average FX adjusted 170 000 27% revenue growth 2015–2024: 150 000 23% 9% 130 000 20% 110 000 16% Revenues, MSEK 90 000 13% Yearly growth, % 70 000 10% Target: annual revenue growth of 8% 50 000 6% 30 000 3% * Figures for the years 2015-2016 are 10 000 -1% best estim
Slide 51: Sustained high return on capital employed
Sustained high return on capital employed 35% 30% 25% 20% 15% 10% Return on Capital Employed % 5% * Figures for the years 2015-2017 are best estimated numbers, as the effects of the distribution of Epiroc and restatements for IFRS15 are not 0% fully reconciled. 2015* 2016* 2017* 2018 2019 2020 2021
Slide 52: Operating profit per share
Operating profit per share SEK 9.00 8.00 7.00 6.00 77% 5.00 OPERATING PROFIT PER SHARE 1) 4.00 Financial Net 12M 3.00 Income tax expense 12M Earnings per share 12M 2.00 60% 1) Figures restated for share split in 2022. 1.00 * Including Epiroc until 2016. ** Financial Net includes a tax-free gain of S
Slide 53: Asset light and strongly cash generative
Asset light and strongly cash generative MSEK 45 000 Average cash 40 000 conversion 35 000 +23% 2015–Sep. 2025: 108% -7% 30 000 +34% +28% 25 000 +23% +36% Operating cash 20 000 +15% +20% +30% flow, MSEK 15 000 +10% +8% Operating profit, MSEK 10 000 +39% Gross investment in 5 000 property, plant and
Slide 54: Financial strength gives flexibility and resilience
Financial strength gives flexibility and resilience 1.0 0.8 0.6 0.4 Net debt/EBITDA 0.2 Net debt/Equity 0.0 2018 2019 2020 2021 2022 2023 2024 54 Atlas Copco Group Capital Markets Day 2025
Slide 55: Sustainable cash distribution
Sustainable cash distribution SEK 7.00 6.00 6.11 5.76 5.00 4.82 3.90 Earnings per 4.00 3.75 share, SEK 3.72 3.00 3.43 3.36 3.40 Dividend per 3.00 3.04 2.80 3.00 share, SEK 2.49 2.50 2.45 2.00 2.41 2.30 Dividend and redemption 1.83 1.90 per share, SEK 1.70 1.75 1.75 1.50 1.58 1.58 1.38 1.00 Distribut
Slide 56: Summary
Summary 56 Atlas Copco Group Capital Markets Day 2025
Slide 57: Summary
Summary ▪ Diverse business focused on selected end markets ▪ Market leader with strong portfolio of businesses and products ▪ Strong service offer ▪ Consistent strategy for long-term profitable growth - Supported by digitalization and AI ▪ Committed to innovation and tangible customer value ▪ Reinve
Slide 58: Atlas Copco
Atlas C re reas OPCO | re rey the future
Slide 59: Forward-looking statements
“Some statements in this presentation are forward-looking, and the actual outcome could be materially different. In addition to the factors explicitly discussed, other factors could have a material effect on the actual outcome. Such factors include, but are not limited to, general business condition